What does a Business Developer do?
A Business Developer finds or creates more business opportunities for an organisation. They do this by finding new clients, designing new products and offerings for new and existing clients, and seeking out public and private sector partnerships. A Business Developer’s goal is to generate more revenue for their company. This can be achieved by expanding the current client base or expanding into new markets.
Business Developers need an in-depth understanding of their company’s business model, products and services and their target audience to enable them to create practical solutions for the company.
Business Developer skills and qualifications
A successful Business Developer will have the following prerequisite skills and qualifications:
- In-depth knowledge of business management principles
- Project management skills
- Market research and strategic planning
- Working knowledge of word processing tools and other relevant software packages such as Outlook, Word, Excel, PowerPoint, and Access and any other industry-related software
- Numeracy and excellent mathematical skills
- Excellent interpersonal skills
- Strong negotiation skills
- Creativity and innovation
Business Developer experience requirements
Typically, a Business Developer requires one to two years of experience on the job. This experience can be acquired through an internship or apprenticeship. Through this, they should have acquired a strong foundation in negotiating business deals, seeking out partnerships and acquiring new clients. Other experience requirements include a background in sales, marketing, or business management.
Senior Business Developers or Business Development Executives require a minimum of five years of experience on the job. In addition to the above, they also need to have some management or leadership experience.
Business Developer education and training requirements
Becoming a Business Developer requires a Bachelor’s Degree in Business Studies, Finance, Economics or a related field. A Master’s Degree in Business Management is not mandatory but is useful. Without a university degree, prospective Business Developers may obtain a Level 2 Diploma in Skills for Business, or a Level 3 Certificate in Business Development Skills or Sales Management through the Northern Council for Further Education (NCFE).
The Institute of Leadership and Management also offers useful certificate courses in business and sales. Business Developers can also obtain the London School of Business and Finance’s Diploma in Business Development Techniques.
Business Developer salary expectations
According to Indeed Salaries, a Business Developer in the United Kingdom can expect a salary of £36,785 per year. Business Developer salary expectations depend on their industry, level of seniority in the company they work for and its geographical location.
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